Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | IDEX CORP |
Entity Central Index Key | 0000832101 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance The following table sets forth information regarding the Company’s Summary Compensation Summary Compensation Average Non-PEO Average Non-PEO Value of Net Adjusted Year TSR Peer 2022 7,495,227 11,439,171 N/A N/A 2,396,496 2,058,991 137 132 586.7 884.2 2021 6,719,772 9,849,418 N/A N/A 1,743,998 2,463,917 140 150 449.4 765.4 2020 3,407,839 5,952,238 8,890,861 (14,813,422 ) 1,709,129 2,782,284 117 116 377.8 622.9 (1) The Principal Executive Officer (“PEO”) and NEOs for the applicable years were as follows: • 2022: Mr. Ashleman served as the PEO for the entirety of 2022. The Company’s other NEOs for 2022 were: William K. Grogan; Melissa Aquino; Marc Uleman; and Lisa M. Anderson. • 2021: Mr. Ashleman served as the PEO for the entirety of 2021. The Company’s other NEOs for 2021 were: William K. Grogan; Denise R. Cade; Melissa S. Flores; Daniel J. Salliotte; and Michael J. Yates. • 2020: Mr. Ashleman was appointed PEO effective December 15, 2020, and Mr. Silvernail served as PEO prior to Mr. Ashleman’s appointment. The Company’s other NEOs for 2020 were: William K. Grogan; Denise R. Cade; Jeffrey D. Bucklew; and Daniel J. Salliotte. (2) Amounts reported in this column represent (i) the total compensation reported in the Summary Compensation Table for the applicable year in which the NEO served as PEO in the case of Messrs. Ashleman and Silvernail and (ii) the average of the total compensation reported in the Summary Compensation Table for the applicable year for the Company’s other NEOs reported for the applicable year. (3) To calculate the compensation actually paid (“CAP”), adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for Messrs. Ashleman and Silvernail and for the average of the other NEOs is set forth following the footnotes to this table. (4) Pursuant to rules of the SEC, the comparison assumes $100 was invested on December 31, 2019. Historic stock price performance is not necessarily indicative of future stock price performance. (5) The TSR Peer Group consists of the S&P 400 Midcap Industrials Sector Index, an independently prepared index (and which is used for the Company’s stock performance chart in the Annual Report on Form 10-K (6) As noted in “Compensation Discussion and Analysis,” the Compensation Committee selected Adjusted EBITDA as a key metric for evaluating and rewarding management’s performance in the 2022 incentive program design. This measure is used to determine the payout of 40% of the 2022 MICP awards. Adjusted EBITDA is a non-GAAP the impact of acquisitions and divestitures and actual capital expenditures. A reconciliation from GAAP to non-GAAP financial measures and other related information is included in Item 7 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. | ||
Company Selected Measure Name | Adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | The Principal Executive Officer (“PEO”) and NEOs for the applicable years were as follows: • 2022: Mr. Ashleman served as the PEO for the entirety of 2022. The Company’s other NEOs for 2022 were: William K. Grogan; Melissa Aquino; Marc Uleman; and Lisa M. Anderson. • 2021: Mr. Ashleman served as the PEO for the entirety of 2021. The Company’s other NEOs for 2021 were: William K. Grogan; Denise R. Cade; Melissa S. Flores; Daniel J. Salliotte; and Michael J. Yates. • 2020: Mr. Ashleman was appointed PEO effective December 15, 2020, and Mr. Silvernail served as PEO prior to Mr. Ashleman’s appointment. The Company’s other NEOs for 2020 were: William K. Grogan; Denise R. Cade; Jeffrey D. Bucklew; and Daniel J. Salliotte. | ||
Peer Group Issuers, Footnote [Text Block] | The TSR Peer Group consists of the S&P 400 Midcap Industrials Sector Index, an independently prepared index (and which is used for the Company’s stock performance chart in the Annual Report on Form 10-K | ||
Adjustment To PEO Compensation, Footnote [Text Block] | The a Eric D. Ashleman Prior FYE 12/31/2019 12/31/2020 12/31/2021 Current FYE 12/31/2020 12/31/2021 12/31/2022 Fiscal Year 2020 2021 2022 SCT Total $3,407,839 $6,719,772 $7,495,227 - Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year ($2,006,979 ) ($4,174,035 ) ($4,598,330 ) + Fair Value at Fiscal Year-End $2,659,808 $6,194,944 $8,424,336 + Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years $1,362,544 $1,050,803 $865,977 + Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year $0 $0 $0 + Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year $443,050 $21,243 ($916,830 ) - Fair Value as of Prior Fiscal Year-End $0 $0 $0 + Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting $85,976 $36,691 $168,791 Compensation Actually Paid $5,952,238 $9,849,418 $11,439,171 Andrew K. Silvernail Prior FYE 12/31/2019 12/31/2020 12/31/2021 Current FYE 12/31/2020 12/31/2021 12/31/2022 Fiscal Year 2020 2021 2022 SCT Total $8,890,861 $0 $0 - Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year ($6,277,937 ) $0 $0 + Fair Value at Fiscal Year-End $0 $0 $0 + Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years $0 $0 $0 + Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year $0 $0 $0 + Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year ($295,496 ) $0 $0 - Fair Value as of Prior Fiscal Year-End ($17,130,850 ) $0 $0 + Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, $ 0 $ 0 $ 0 Compensation Actually Paid ($14,813,422 ) $0 $0 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,396,496 | $ 1,743,998 | $ 1,709,129 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,058,991 | 2,463,917 | 2,782,284 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Non-PEO Prior FYE 12/31/2019 12/31/2020 12/31/2021 Current FYE 12/31/2020 12/31/2021 12/31/2022 Fiscal Year 2020 2021 2022 SCT Total $1,709,129 $1,743,998 $2,396,496 - Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year ($853,306 ) ($727,995 ) ($1,537,000 ) + Fair Value at Fiscal Year-End $1,130,856 $1,080,430 $1,212,682 + Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years $548,525 $359,737 $166,194 + Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year $0 $0 $0 + Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year $225,012 ($2,016 ) ($209,489 ) - Fair Value as of Prior Fiscal Year-End $0 $0 $0 + Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting $22,068 $9,763 $30,108 Compensation Actually Paid $2,782,284 $2,463,917 $2,058,991 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Tabular List of Financial Performance Measures The following is a list of financial performance measures, which in our assessment represent the most important financial performance measures used by the Company to link compensation actually paid to the NEOs for 2022. In addition to these metrics, the Company’s MICP includes performance goals relating to ESG initiatives in order to emphasize those initiatives as priorities throughout the organization. Plea se 1. Total Shareholder Return 2. Relative TSR percentile ranking as compared to companies in the S&P 500 Index 3. Adjusted EBITDA | ||
Total Shareholder Return Amount | $ 137 | 140 | 117 |
Peer Group Total Shareholder Return Amount | 132 | 150 | 116 |
Net Income (Loss) | $ 586,700,000 | $ 449,400,000 | $ 377,800,000 |
Company Selected Measure Amount | 884,200,000 | 765,400,000 | 622,900,000 |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative TSR percentile ranking as compared to companies in the S&P 500 Index | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDA | ||
Non-GAAP Measure Description [Text Block] | As noted in “Compensation Discussion and Analysis,” the Compensation Committee selected Adjusted EBITDA as a key metric for evaluating and rewarding management’s performance in the 2022 incentive program design. This measure is used to determine the payout of 40% of the 2022 MICP awards. Adjusted EBITDA is a non-GAAP the impact of acquisitions and divestitures and actual capital expenditures. A reconciliation from GAAP to non-GAAP financial measures and other related information is included in Item 7 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. | ||
Mr. Ashleman [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 7,495,227 | $ 6,719,772 | $ 3,407,839 |
PEO Actually Paid Compensation Amount | $ 11,439,171 | 9,849,418 | 5,952,238 |
PEO Name | Mr. Ashleman | ||
Mr. Silvernail [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 0 | 0 | 8,890,861 |
PEO Actually Paid Compensation Amount | $ 0 | 0 | (14,813,422) |
PEO Name | Mr. Silvernail | ||
PEO [Member] | Mr. Ashleman [Member] | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (4,598,330) | (4,174,035) | (2,006,979) |
PEO [Member] | Mr. Ashleman [Member] | Fair Value at Fiscal YearEnd of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 8,424,336 | 6,194,944 | 2,659,808 |
PEO [Member] | Mr. Ashleman [Member] | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 865,977 | 1,050,803 | 1,362,544 |
PEO [Member] | Mr. Ashleman [Member] | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr. Ashleman [Member] | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (916,830) | 21,243 | 443,050 |
PEO [Member] | Mr. Ashleman [Member] | Fair Value as of Prior Fiscal YearEnd of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr. Ashleman [Member] | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 168,791 | 36,691 | 85,976 |
PEO [Member] | Mr. Silvernail [Member] | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (6,277,937) |
PEO [Member] | Mr. Silvernail [Member] | Fair Value at Fiscal YearEnd of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr. Silvernail [Member] | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr. Silvernail [Member] | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr. Silvernail [Member] | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (295,496) |
PEO [Member] | Mr. Silvernail [Member] | Fair Value as of Prior Fiscal YearEnd of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (17,130,850) |
PEO [Member] | Mr. Silvernail [Member] | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,537,000) | (727,995) | (853,306) |
Non-PEO NEO [Member] | Fair Value at Fiscal YearEnd of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,212,682 | 1,080,430 | 1,130,856 |
Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 166,194 | 359,737 | 548,525 |
Non-PEO NEO [Member] | Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (209,489) | (2,016) | 225,012 |
Non-PEO NEO [Member] | Fair Value as of Prior Fiscal YearEnd of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Value of Dividends Earned on Stock Awards in the Covered Fiscal Year, Prior to Vesting [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 30,108 | $ 9,763 | $ 22,068 |